Mizuho Securities Raises Price Target on SCANA Corp. (SCG) to $84; Reiterates Buy

Mizuho Securities reiterated a Buy rating on SCANA Corp (NYSE: SCG), and raised the price target to $84.00 (from $74.00), seeing the company's new nuclear build as the key to unlocking value. Mizuho believes that once there is a line of sight on the new nuclear project, and the fixed price option is approved by regulators, the stock should re-rate and the current 13% discount to Mizuho EPS should move appreciably higher towards a group multiple.

Analyst James von Riesemann commented, "We're raising our earnings estimates, underlying EPS growth rate, and increasing our target price for Buy-rated SCG. In an environment where growth is hard to come by, we see SCGs new nuclear build as the key to unlocking value and with SCG formally electing the fixed price option, the variability in potential financial exposure has been greatly reduced, in our view. Our revised financial outlook and price target reflect the fixed cost option for that nuclear build that SCG has chosen. Our updated target is $84 per share."

For an analyst ratings summary and ratings history on SCANA Corp click here. For more ratings news on SCANA Corp click here.

Shares of SCANA Corp closed at $71.43 yesterday.

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